Taylor Wessing advises Esterline Technologies Corporation on the £115 million acquisition of Racal Acoustics
Taylor Wessing LLP's Technology and Inward Investment Group has acted for Esterline Technologies Corporation, a US$1.5 billion specialised manufacturing company, on the acquisition of Racal Acoustics for £115 million from UK mid market buyout specialist, ECI.
Based in Harrow, Racal Acoustics is the world’s premier provider of specialist hearing protection and communications products for military and avionics applications. Completion of the company's sale to Esterline is contingent only on German regulatory approval and is expected to take place in early January.
This deal closely follows Taylor Wessing LLP's advice to Esterline on the recent sale of Muirhead Aerospace Limited to Ametek, Inc.
Mark Barron, Senior Corporate Associate at Taylor Wessing LLP, comments:
“Having recently worked with Esterline on the sale of Muirhead Aerospace Limited to Ametek, Inc. we are very pleased to have had the opportunity to work with them again on this exciting opportunity for Esterline.”
The Taylor Wessing team advising on the sale included David Kent (lead partner), Mark Barron, Philip Shepherd, Karolina Plent and Lynn McCloughry (Corporate), Nikol Davies (Tax), Chris Jeffery (IP/Contracts), Simon Lovell (Finance) and Mark McCanney (Employment).
SJ Berwin LLP acted for ECI Partners.
Jones Day acted for management.
Ends
Lawyers David Kent, Mark Barron, Philip Shepherd, Karolina Plent, Nikol Davies, Christopher Jeffery
Notes to editors
For more information please contact Sarah le Cheminant or Helen Needham at Taylor Wessing:
Tel: +44 (0)20 7300 4930/4156
Email: s.lecheminant@taylorwessing.com / h.needham@taylorwessing.com
Taylor Wessing LLP is a leading law firm providing legal support for commercial organisations doing business in Europe and the Middle East. Based in Belgium, China, Dubai, France, Germany and the UK, Taylor Wessing provides the full range of legal services to major corporations and growing enterprises. Taylor Wessing boasts a strong reputation in the corporate, finance and real estate sectors alongside in-depth experience across the full range of legal services including intellectual property and technology, tax, litigation & dispute resolution, employment & pensions and private client.
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About Esterline Technologies
Esterline Technologies is a specialized manufacturing company serving principally aerospace and defense markets. Approximately 80% of total revenues are generated from aerospace/defense markets. The remaining 20% is from the application of these technologies into industrial markets. Esterline management views the company's businesses in three segments related to its set of core competencies: Avionics & Controls, Sensors & Systems, and Advanced Materials.
